How to Stand Out as an Employer in a Tight Labor Market
When it comes to hiring the best and brightest workers, it’s a cut-throat world out there. What can you do as an employer to stand out? According to Millennials, offer career advancement, and perks that help limit out-of-pocket costs while promoting a healthier, less-stressful lifestyle.
From helping employees pay off student loans, to instituting four-day workweeks of 32 hours or less, flextime and standing desks, firms know that today’s job market is tight. Employers are pulling out all the stops to cherry-pick high performers from the competition and entice people to accept their job offer.
What are some benefits that you could consider offering in an effort to differentiate your organization from the competition?
- Health and Wellness: According to a recent Society for Human Resources Management (SRHM) report, among organizations surveyed, 13 percent of employers offered a standing desk in 2013 vs. 44 percent in 2017. The benefits? Lower weight gain, obesity and blood sugar. You could also consider extending healthcare coverage to opposite- and same-sex spouses.
- Student Loan Assistance: Although more organizations are offering student loan relief, the number is still small. According to the SHRM report, just 4 percent of organizations offered this benefit in 2017, even though 88 percent of Millennials consider student loan repayment assistance an important benefit for employees.
- Four-day Workweeks: Workers today are looking for flexible work arrangements and unlike their parents, work/life balance is a greater priority. The SHRM study shows 62 percent of organizations allow telecommuting and 57 percent offer flextime, which lets employees choose their work hours.
WHAT CAN I DO? If not you, who? Regardless of where you sit in your organization, forward this blog to the individual or group that manages your benefits plan. Encourage them to re-think these three areas, with a focus on the needs of our changing workforce. What was acceptable a decade ago no longer is. If you want to compete for the best and brightest talent, you must stay ahead of the curve.
Jill Christensen is an employee engagement expert, best-selling author, and international keynote speaker. She is a Top 100 Global Employee Engagement Influencer, authored the best-selling book, If Not You, Who?, and works with the best and brightest global leaders to improve productivity and retention, customer satisfaction, and revenue growth. Jill can be reached at +1.303.999.9224 firstname.lastname@example.org.